Sheppard Mullin has provided a full range of legal services to family owned and other closely held businesses for over 80 years, representing companies from all industries. Family owned and closely held businesses have long been an important part of our practice, and over the years we have developed the experience and expertise necessary to help these businesses align and balance the sometimes competing objectives of effective corporate governance, financial success, family harmony and personal development. More recently, the firm has commenced the representation of family offices which have evolved from family business clients which have achieved significant liquidity as well as via referrals as our expertise has become recognized.

We believe that it is critical to understand and address the full range of needs and goals of the family owned and closely held businesses we represent. Our attorneys work with family members and management to meet those needs and achieve those goals, both by providing legal services and assisting our clients in locating and engaging other advisors who can contribute to the success of the business. Many of the legal services we offer, including critically important tax and estate planning services, are specially tailored to meet the needs of family owned and other closely held businesses. As a result, our attorneys serve in the role of an experienced, trusted advisor to our family owned and closely held business clients, guiding them through the often complex and unique challenges that they confront.

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Our practice runs the spectrum of legal disciplines, including advice pertaining to corporate and business matters, real estate, intellectual property, employment law, employee benefits, taxation and estate and succession planning. Our legal services are designed to assist our clients in the following areas:

Strategic Counseling

Developing a "shared vision" for the enterprise

Defining roles and boundaries between the enterprise and family

Developing plans for family and closely held business governance, operation, ownership, succession, disposition and stewardship of wealth

Governance

Creating and maintaining family offices

Facilitating family and closely held business meetings

Discharging legal duties of directors

Dealing with interested party transactions

Developing family codes of conduct and family legacy structuring

Ownership and Structure

Choice of tax advantaged entity and structure

Adjusting equity ownership and voting power

Estate planning and tax reduction

Valuation techniques

Use of family limited partnerships and LLCs

"Freeze" techniques and gifting programs

Buy/sell planning, funding and agreements

Operations

Capitalization and financing, including bank, private equity and other financings

Dealing with key employees

Tax advantaged compensation, perks and benefits

Incentive pay and plans for outside management and working family members

Retirement planning, insurance funding and disability benefits

Intellectual property acquisition, protection and licensing

Facilities acquisition and disposition with minimal tax consequences

Reducing federal, state and local and foreign income, sales, property and other taxes

Family trusts—simple inter vivos trusts, life insurance trusts and generation skipping, dynasty and other exotic domestic and international trusts

Asset preservation

In the course of our practice we encounter numerous professionals who have expertise the family owned and closely held businesses may require. We assist our clients in locating and engaging other advisors, including:

Family business consultants

Accountants

Valuation experts

Bankers

Investment bankers

Insurance advisors

Financial planners

Investment advisors and money managers

We work closely with these advisors to ensure that our clients receive the comprehensive advice and assistance they need to succeed.

Recognizing the special needs of family owned and closely held businesses, Sheppard Mullin provides the following special services: